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End of crypto?
#1
Bitcoin down 13% to $3770
Stellar down 20% to $0.14 (from not so long ago $0.28)

etc...for all other major coins. It's a bloodbath. It's a catastrophe for crypto (and my wallets).

Is it the end of crypto? 

Why are we crashing from a crazy high last December to this now? 

Why is the crypto market going down?
  • Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately.
  • Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges.
  • Stringent government regulation: bitcoin is decentralized and has not central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or the central It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering.
  • Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC.

https://smartereum.com/28708/crypto-cras...at-nov-24/
Cardano is the most promising 3 gen. crypto right now.


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#2
(2018-11-25, 10:14 AM)Carsten Wrote: Bitcoin down 13% to $3770
Stellar down 20% to $0.14 (from not so long ago $0.28)

etc...for all other major coins. It's a bloodbath. It's a catastrophe for crypto (and my wallets).

Is it the end of crypto? 

Why are we crashing from a crazy high last December to this now? 

Why is the crypto market going down?
  • Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately.
  • Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges.
  • Stringent government regulation: bitcoin is decentralized and has not central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or the central It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering.
  • Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC.

https://smartereum.com/28708/crypto-cras...at-nov-24/
It is certainly not the end of crypto.
I believe it is an indicator of a future bullrun as we have never seen before. Market is being manipulated by insiders. They hope the price will go so deep they can buy at bargain price before BAKKT launches.
What is this thing that builds our dreams, yet slips away from us?

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#3
We just have to wait and see. I'm no longer sure what is going to happen. If the negativity from banks, government continue then the average Joe will stay out. Without normal people crypto will continue to be a specialty for criminals (dark web) and for enthusiastic people like us in here.

What do you think Bakkt will do? I never heard of it?
Cardano is the most promising 3 gen. crypto right now.


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#4
Crypto will never end! There's a very popular Twitch and Youtuber gamer with over 2 millions followers that has made his own Crypto youtube channel. That will help bring crypto to my world (the gaming world). Also a lot of crypto collectibles is starting to show up, sadly right now some of them are backed by a company that i don't like. But in the future that will also help, so no crypto is not dying it's just under pressure. Don't worry crypto is here to stay.
If you wanna donate in any cryptocurrency just send me a message and i will set it up(If i haven't) Smile All donations is appreciated  
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#5
I've read some about institutional shorting big chunk of money to kill little investors like us and take all gains in the next bull run. I guess that many factors is causing the market toward free falling... but, as any market, fear and emotional call are also playing a big role in that drop.
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#6
Fear and emotions is natural, but not good for business. Lack of time prevented me from doing stoploss in time.
Cardano is the most promising 3 gen. crypto right now.


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#7
(2018-11-25, 12:59 PM)Carsten Wrote: We just have to wait and see. I'm no longer sure what is going to happen. If the negativity from banks, government continue then the average Joe will stay out. Without normal people crypto will continue to be a specialty for criminals (dark web) and for enthusiastic people like us in here.

What do you think Bakkt will do? I never heard of it?

Do a searcg about BAKKT. I have written about it in some post in here.
What is this thing that builds our dreams, yet slips away from us?

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#8
Yes Bakkt is here http://rimbit.dk/thread-883-post-7732.html#pid7732

Intercontinental Exchange—the trading colossus that owns the New York Stock Exchange and other global marketplaces—announced that it is forming a new company called Bakkt. The new venture, which is expected to launch in November, will offer a federally regulated market for Bitcoin. With the creation of Bakkt, ICE aims to transform Bitcoin into a trusted global currency with broad usage.
NYSE is the biggest stock trader in the world. If they are interested in cryptos, I suppose SEC will likely approve crypto ETFs.
SEC has to take a new decision by the end of september. If there is a yes this could mean a start of a new bull race.
If so, I believe BTC will surpass $50000. Most of the top 20 currencies will follow this trend.
Cardano is the most promising 3 gen. crypto right now.


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#9
(2018-11-26, 04:27 PM)Carsten Wrote: Yes Bakkt is here http://rimbit.dk/thread-883-post-7732.html#pid7732

Intercontinental Exchange—the trading colossus that owns the New York Stock Exchange and other global marketplaces—announced that it is forming a new company called Bakkt. The new venture, which is expected to launch in November, will offer a federally regulated market for Bitcoin. With the creation of Bakkt, ICE aims to transform Bitcoin into a trusted global currency with broad usage.
NYSE is the biggest stock trader in the world. If they are interested in cryptos, I suppose SEC will likely approve crypto ETFs.
SEC has to take a new decision by the end of september. If there is a yes this could mean a start of a new bull race.
If so, I believe BTC will surpass $50000. Most of the top 20 currencies will follow this trend.
They have announced the launch on feb 24
What is this thing that builds our dreams, yet slips away from us?

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#10
That is why I am using automated trailing stop loss and other automated trading system to minimise my lost and maximise my gains... In that crazy market... I have to say that it does not work that easily, but still, I don't loose more than 2-5%. Hoping that the stable coins don't crash as well... which would mean complete lost of my portfolio as well.
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